Promising sale sign

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Wheelock Properties has received an encouraging initial response to the forthcoming launch of units at its Galaxia development in Diamond Hill, with the registration of more than 1,200 applicants as of yesterday afternoon.

Estate agents described the result as 'very good' amid the negative market sentiment, which was dampened by higher interest rates, the stock market slump and Asia's financial crisis.

They predicted more than 80 per cent of 960 flats could be sold on the official sale on Saturday.

Wheelock said registration continued until 10 pm last night and the exact number of registered buyers for the Galaxia flats would be announced today.

Ricky Lin Tat-fai, sales manager of Midland Realty's Plaza Hollywood branch, said the result was better than he had expected.